Atlanta Gold Inc. to Complete $750,000 Private Placement

TORONTO, Nov. 5, 2012 /CNW/ - Atlanta Gold Inc. (TSXV: ATG) (OTCQX: ATLDF) announcesthat it intends to complete a non-brokered private placement of up to
15,000,000 Units at a price of $0.05 per Unit for gross proceeds of up
to $750,000. Each Unit will consist of one common share and one warrant
to purchase a common share of the Company. Each whole warrant is
exercisable for a period of 24 months from closing of the offering and
will entitle the holder to purchase one additional common share at
$0.10 for the initial 12 months from closing and at $0.15 per share
thereafter. The Company has the right to accelerate the expiry date of
the warrants if the closing price of the Company's common shares on the
TSX Venture Exchange ("TSXV") exceeds $0.20 for 20 consecutive days on
which the Company's shares trade. Net proceeds from the offering will
be used to reduce indebtedness and for general working capital
purposes.

Certain insiders of the Company may participate in the offering. The
Company will pay a finder's fee to registrants consisting of an 8% cash
commission and 8% in compensation options, with each compensation
option entitling the holder to purchase one common share at a price of
$0.10 per share for one year. All securities issued under the offering
will be subject to a four-month statutory hold period.

Completion of the offering is subject to TSXV approval.

About the Company

Atlanta Gold Inc. holds through its 100% owned subsidiary, Atlanta Gold Corporation,
leases, options or ownership interests in its Atlanta properties which
comprise approximately 2,159 acres (8.74 square kilometers) located 90
air kilometers east of Boise, in Elmore County, Idaho. A long history
of mining makes Atlanta very suitable for development of new mining
projects. The Company is focused on advancing its core asset, Atlanta,
towards mine development and production.

Forward-Looking Information

This news release contains forward-looking information and
forward-looking statements (collectively "forward-looking statements")
within the meaning of applicable securities laws with respect to the
completion of the offering and the use of proceeds therefrom. This
statement is based upon the assumption that the Company will receive
TSXV approval for the issuance of the securities and will successfully
complete the placement within the time permitted. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results to differ materially from those
expressed or implied by the forward-looking statements and accordingly,
readers should not place undue reliance on those statements. Risks and
uncertainties that may cause actual results to vary include the
Company's limited financial resources, the potential imposition of
additional or varied sanctions against the Company's subsidiary by the
Court in the U.S. Clean Water Act proceedings, changes in general
economic conditions or conditions in the financial market, the
inability to obtain the approval of the TSXV to the financing on the
terms provided, changes in resource prices and fluctuations in currency
exchange rates, as well as other risks and uncertainties which are more
fully described in the Company's annual and quarterly Management
Discussion and Analysis and in other Company filings made with
securities regulatory authorities, which are available at www.sedar.com. Readers are cautioned that the foregoing lists of risks,
uncertainties and assumptions are not exhaustive. The forward-looking
statements are made as of the date hereof. The Company undertakes no
obligation to update publicly or revise any forward-looking statements
contained herein whether as a result of new information, future events
or otherwise, except in accordance with applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.